United Services Automobile Association Increases Holdings in Macy’s Inc (M)

United Services Automobile Association grew its position in Macy’s Inc (NYSE:M) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 370,533 shares of the company’s stock after acquiring an additional 36,460 shares during the quarter. United Services Automobile Association’s holdings in Macy’s were worth $12,869,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Princeton Capital Management LLC bought a new position in shares of Macy’s during the 3rd quarter worth approximately $104,000. Baker Ellis Asset Management LLC bought a new position in shares of Macy’s during the 2nd quarter worth approximately $112,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Macy’s during the 2nd quarter worth approximately $116,000. First Hawaiian Bank bought a new position in shares of Macy’s during the 3rd quarter worth approximately $147,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Macy’s during the 2nd quarter worth approximately $150,000. Institutional investors own 92.58% of the company’s stock.

Several equities analysts recently commented on M shares. Zacks Investment Research upgraded Macy’s from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday, October 3rd. Canaccord Genuity upgraded Macy’s from an “average” rating to a “buy” rating and set a $5.50 target price for the company in a research report on Friday, November 16th. Deutsche Bank raised their target price on Macy’s from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Royal Bank of Canada set a $39.00 price target on Macy’s and gave the company a “hold” rating in a report on Thursday, August 16th. Finally, Standpoint Research cut Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.30.

In other news, Director William H. Lenehan bought 3,154 shares of the stock in a transaction dated Friday, November 16th. The stock was bought at an average cost of $31.74 per share, with a total value of $100,107.96. Following the purchase, the director now owns 11,214 shares of the company’s stock, valued at $355,932.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Harry A. Lawton III sold 28,684 shares of Macy’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $36.05, for a total value of $1,034,058.20. Following the completion of the sale, the president now directly owns 54,722 shares of the company’s stock, valued at $1,972,728.10. The disclosure for this sale can be found here. Insiders sold a total of 233,312 shares of company stock valued at $7,817,972 over the last three months. Insiders own 2.36% of the company’s stock.

M stock opened at $31.69 on Friday. Macy’s Inc has a fifty-two week low of $22.47 and a fifty-two week high of $41.99. The firm has a market cap of $9.94 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.56. The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, November 14th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Macy’s Inc will post 4.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.3775 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.76%. Macy’s’s dividend payout ratio (DPR) is currently 40.05%.

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Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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